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Oil futures settled lower on April 10 and posted their biggest weekly decline since 2022 ahead of US-Iran talks on a permanent ceasefire. Brent settled at $95.20 after falling 12.7% for the week, and WTI settled at $96.57.
Attacks reportedly cut Saudi output by 600,000 bpd and Strait of Hormuz shipping remained near standstill.
Weekly losses reflect expectations that talks could restore Gulf supply, but ongoing disruptions keep physical prices high and the outlook uncertain. Feed buyers should expect continued volatility in energy costs that feed into freight and processing.
reuters.comSiddharth CavaleApr 10, 2026After 250 past bearish geopolitics events, Crude Oil (Brent) moved a median -3.1% over 5 sessions (36% higher; middle half -7.9% to +1.6%), and -5.5% over 20.
After 255 past bearish geopolitics events, Crude Oil (WTI) moved a median -2.4% over 5 sessions (31% higher; middle half -7.0% to +1.7%), and -5.0% over 20.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
